First Guaranty plans to price 4,571,428 shares between $19.00, $21.00

Raymond James, Keefe, Bruyette & Woods and Sterne, Agee & Leach assist

By Devika Patel

Knoxville, Tenn., Dec. 9 – First Guaranty Bancshares, Inc. will sell 4,571,428 common shares in its public offering, of which 1 million shares will be sold by selling shareholders. The deal was announced Oct. 24 and will have a greenshoe of 685,714 shares.

The shares will be sold at a price expected to fall between $19.00 and $21.00 per share.

Raymond James is the lead bookrunning manager. Keefe, Bruyette & Woods and Sterne, Agee & Leach, Inc. are the co-managers.

Proceeds will be used for loan portfolio growth, potential acquisitions and other general corporate purposes and to redeem some of the company’s preferred stock held by the U.S. Department of the Treasury.

The bank holding company is based in Hammond, La.

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